Watsco Inc (WSO) Financial Statements
Industry: Hardware & Plumbing & Heating Equipment & Supplies (Wholesale)
In fiscal 2025, Watsco reported revenue of $7.24B, down 5.0% from $7.62B the year before. Net income was $497.0M (a 6.9% net margin), or $12.25 per diluted share. Gross margin was 28.0% and operating margin was 10.0%. Operating activities generated $569.6M of cash, leaving $535.1M of free cash flow. At fiscal year end, Watsco held $4.41B in total assets against $1.63B in total liabilities, including $433.3M of cash and equivalents.
Open the full interactive Watsco financials → Quarterly statements, key ratios, valuation history and price charts.
Watsco Key Stats
| Share Price | $291.50 |
|---|---|
| Market Cap | $11.13B |
| P/E Ratio | 23.8 |
| Revenue YoY Growth | -5.0% |
| 52-Week Range | $279.90 – $452.97 |
| Shares Outstanding | 38.2 million (basic, 2026 Q2) |
Watsco Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $5.05B | $6.28B | $7.27B | $7.28B | $7.62B | $7.24B |
| Cost of Goods Sold | $3.83B | $4.61B | $5.24B | $5.29B | $5.57B | $5.21B |
| Gross Profit | $1.22B | $1.67B | $2.03B | $1.99B | $2.04B | $2.03B |
| Operating Income | $401.0M | $628.5M | $831.6M | $794.8M | $781.8M | $720.3M |
| Pre-Tax Income | $399.8M | $627.5M | $829.4M | $789.9M | $802.6M | $737.7M |
| Income Tax | $76.6M | $128.8M | $125.7M | $155.8M | $166.9M | $150.1M |
| Net Income | $269.6M | $418.9M | $601.2M | $536.3M | $536.3M | $497.0M |
| Diluted EPS | $7.01 | $10.78 | $15.41 | $13.67 | $13.30 | $12.25 |
Watsco Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $2.07B | $1.58B | $1.53B | $2.10B |
| Net Income | $161.6M | $71.7M | $79.1M | $163.3M |
| Diluted EPS | $3.98 | $1.89 | $1.87 | $4.00 |
Watsco Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $146.1M | $118.3M | $147.5M | $210.1M | $526.3M | $433.3M |
| Current Assets | $1.48B | $1.96B | $2.30B | $2.39B | $3.08B | $2.95B |
| Total Assets | $2.48B | $3.09B | $3.49B | $3.73B | $4.48B | $4.41B |
| Current Liabilities | $487.1M | $726.7M | $906.5M | $712.0M | $983.9M | $717.7M |
| Total Long-Term Debt | $216.1M | $369.7M | $334.1M | $404.8M | $447.5M | $478.8M |
| Total Liabilities | $997.7M | $1.42B | $1.60B | $1.50B | $1.82B | $1.63B |
| Shareholders' Equity | $1.49B | $1.66B | $1.89B | $2.23B | $2.66B | $2.78B |
Watsco Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $534.4M | $349.6M | $572.0M | $562.0M | $773.1M | $569.6M |
| Cash From Investing | -$16.3M | -$148.6M | -$33.8M | -$41.3M | -$290.7M | -$98.1M |
| Cash From Financing | -$448.5M | -$228.6M | -$504.0M | -$460.1M | -$158.5M | -$568.1M |
| Free Cash Flow | $517.9M | $324.1M | $536.3M | $526.5M | $743.0M | $535.1M |
Figures from Watsco's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Watsco financials page for every line item.
Watsco Company Profile
| Ticker | WSO |
|---|---|
| Exchange | NYSE |
| Industry | Hardware & Plumbing & Heating Equipment & Supplies (Wholesale) |
| Headquarters | Coconut Grove, Florida |
| Incorporated in | Florida |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000105016 |
Frequently Asked Questions
What was Watsco's revenue in fiscal 2025?
Watsco (WSO) reported revenue of $7.24B for fiscal 2025.
What is Watsco's annual revenue history?
Watsco's annual revenue by fiscal year: 2020: $5.05B; 2021: $6.28B; 2022: $7.27B; 2023: $7.28B; 2024: $7.62B; 2025: $7.24B.
What was Watsco's net income in fiscal 2025?
Watsco reported net income of $497.0M for fiscal 2025.
What was Watsco's earnings per share (EPS) in fiscal 2025?
Watsco's diluted EPS was $12.25 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Watsco generate in fiscal 2025?
Watsco generated $535.1M of free cash flow in fiscal 2025.
What was Watsco's revenue last quarter?
In its most recent reported quarter (2026 Q2), Watsco reported revenue of $2.10B.
How much debt does Watsco have?
Watsco reported $478.8M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Watsco are outstanding?
Watsco reported a weighted average of 38.2 million basic shares outstanding in 2026 Q2.
What is Watsco's market cap?
Based on its latest closing price, Watsco (WSO) has a market capitalization of about $11.13B.
When does Watsco's fiscal year end?
Watsco's fiscal year end, as registered with the SEC, is December 31.
Where is Watsco headquartered?
Watsco lists its business address in Coconut Grove, Florida in its SEC filings.